Are You Acquiring Or Restructuring An Existing Business?
The team at Francis Wilks & Jones has all the expertise needed to assist businesses in difficulty. We can assist with issues such as
1. Planning a better corporate structure Read more
One size (and shape) does not fit all in business. Restructuring a trading entity can often rescue an ailing business. It can also help protect you personally. We can also put you in touch with our accountant and tax advisory contacts who can also advise you on the tax benefits of certain structures, again helping you to save money.
2. Divesting unprofitable divisions or areas of the business Read more
It’s one thing identifying an underperforming part of your business, but its far more difficult dealing with it. Often misguided belief that things will turnaround on their own in time lead to disaster. Dealing with underperforming areas that are dragging down the rest of your business in a timely manner can help save your business moving forward. We can assist you and guide you through that difficult process.
3. Buying an Existing Business or Merging Read more
Sometimes the best way to resturcture your business is by buying a new business or division to complement your existing offering, other times it may be beneficial to merge your business with a like minded partner so that together you can each benefit from a newly structured entity.
The team at Francis Wilks & Jones can help you with all aspects of these types of transactions, including undertaking due diligence, and drafting and negotiating sale and purchase argreements.
We have a particular expertise in assiting purchaser in buying the business and assets of insolvent or financially distressed companies from an administrator or liquidator. If you are considering buying assets of an insolvent business please see our booklets Buying Assets From an Administrator 10 FAQs and 7 Things to Know When Buying An Insolvent Company.
4. Debt Recovery Services – Ledger Blitz and Dispute Resolution Read more
It is easy to lose focus of credit control when you have to worry about the day to day running of a business. Often, a complete blitz of a company’s sales ledger can bring in the money needed by a company to help ease its cash flow difficulties whilst other options are looked at. This type of action can give a business the breathing space it may desperately need.
At Francis Wilks & Jones we have enormous experience in this area, recovering millions of pounds of overdue debts for our clients each year. Our debt recovery team is backed with a state of the art case management system which can link directly to our clients’ accounting systems. To learn more about the debt recovery services we can offer, click here.
On some occasions, we are approached by a business facing difficulty due to the non- payment of a single large debt. On these occasions, our Litigation team can help negotiate settlement of the claim and free up badly needed money for the business. If legal proceedings are required to help obtain payment, we are experts in knowing the most appropriate litigation process available to help recover the outstanding debt as quickly as possible and at the lowest possible cost.
5. Revisiting Terms and Conditions with Suppliers Read more
Badly worded terms and conditions can be costly! Our litigation team is frequently instructed to sue or defend businesses where the terms of business are unclear. It is far better to have a clearly drafted set of terms in place where the parties are in no doubt what their contractual rights and obligations are. If your business is facing cashflow problems, our commercial team can help you re-negotiate your terms with suppliers or assist with better drafted terms with your customers.
6. Advice for Directors Read more
Often, in the heat of trying to rescue a business, it is easy to forget that directors could be committing offences which could in turn lead to a personal liability if the company ultimately enters formal insolvency. Offences include preference payments, trading whilst insolvent, wrongful trading, misfeasance and potential director disqualification claims. It is vital early advice is taken in respect of these possible offences so that the risk of a personal claim against you for company losses is avoided.
Alternatively, if you want to explore the options available to you, whether through a formal insolvency process or otherwise, our Business Rescue & Restructuring team can help you.
7. Internal Documents – Shareholders Agreements, Partnership Deeds and Directors’ Service Level Agreements Read more
Plan now and avoid the pain later! It is far easier to put in place a sensible plan to “uncouple” when relations between business associates are cordial and hope to never have to resort to that plan.
Shareholder and partnership disputes are, more often than not, acrimonious and highly emotional and not having a clear document governing the manner in which you resolve such issues is costly and damaging and emotionally draining.
Whether you are looking to restructure your business with a different corporate structure, or set up a new company, we can help you prepare the necessary documentation to help you have a clear exit plan as well as giving clarity on the rights and obligations of all parties in good times.
You may also find out booklet 8 Common Mistakes When Acquiring or Restructuring a Distressed Business helpful.